Robinhood lands steep 60% discount on $170M exchange acquisition: Report

  • 📰 Cointelegraph
  • ⏱ Reading Time:
  • 22 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 51%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

Robinhood cited poor market conditions in demanding the 60% discount, which Ziglu has reportedly accepted as its the 'the best and only reasonable path forward for the company”

Robinhood's acquisition of Ziglu is part of the company's plans to make a headway in the UK market, but the Robinhood team led by CEO Vlad Tenev may have to go back to the drawing board if Ziglu refuses the new offer.However, the new terms seem to have left Ziglu between a rock and a hard place.

A representative from Ziglu did not immediately respond to a request for comment. Hipperson told fintech news outlet Altfi that “we believe the revised proposal...is the best and only reasonable path forward for the company” despite expressing concerns of the revised figure. Ziglu’s last round of funding was closed last November and bumped share prices in the company up to $58.12. The new deal drops the share price to $34.04.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Ouch

Why is everybodyy silent on thiss?

🚀 Thanks a millon.

Curious if anyones triied this?

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 562. in NG

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

The White Company’s statement vintage-inspired bedsheets are back in stockA luxurious way to upgrade any bedscape
Source: RedMagDaily - 🏆 312. / 61 Read more »